|Location||Durban, Durban, South Africa|
Our client, a leading name in the Financial Services industry seeks a dynamic and well experienced Group Finance Manager to join their team, based in Westville Durban. The successful incumbent will report to the Finance Director.
KEY TASKS: Accounting Cycle:
- Work with the Group CFO to ensure that management accounts are sent accurately and timeously by;
- Ensuring that all accounts in the ledger agree to supporting documentation or schedules
- Confirm all journals are processed accurately and based on supporting documentation
- Follow up on discrepancies, inconsistencies and errors
- Preparation of the management accounts, monthly board pack and quarterly board pack for review by the CFO
- Audit deadlines need to be met and all queries needs to be directed to the relevant finance team member.
- Confirm journals with the auditors and send these to the Group Accountant to process.
- Review the Annual Financial Statements before submitting to the CFO and board for approval and signature. Statutory & Legal:
- Vat, EMP, Tax, and IRP5 submissions need to be done via SARS Efiling.
- Review the Vat 201 reconciliation report on Pastel and agree information to the Vat 201 processed on SARS Efiling by the Group Accountant.
- EMP201 submissions need to be filed accurately on SARS Efiling before the 7th of every month.
- Review the EMP 201 submissions and agree amounts to the VIP EMP 201 Summary report.
- Prepare the Tax and Provisional tax calculations to enable PKF to submit the returns on SARS Efiling.
- Subsequent to review of the submissions, the returns will be filed on SARS Efiling by the Group Accountant (EMP 201 and Vat 201) and by PKF (Tax returns).
- Tax Returns and payments must be made before the SARS deadlines (August, Feb and Sep).
- Extract SARS statement of accounts to identify penalties, interest, account balances and non-compliance.
- Schedule visits with the VIP consultant responsible for the IRP5 submissions.
- IRP5 submissions by the VIP Consultant should be in line with the VIP payroll system and the EMP 201 submissions.
- CIPC annual return submissions should be filed annually prior to deadline in September.
- Ensure the Tax Compliance Status (Letter of good standing) is always maintained by ensuring the above submissions and payments are done before the cut off dates.
- Attend to audit queries and process journals to ensure the Annual Financial Statements are issued with an Unmodified Audit Report. Debtors: Work with the Finance Team to ensure:
- Customer queries are responded to within 24hrs
- Invoicing deadlines are met
- Review of the invoices processed by the Debtors Clerk against extracted commission reports and the Pastel invoice calculation workbook to ensure accuracy before the invoice can be sent to the customer.
- Statements are sent out within the first week of the month or when requested by customers.
- Enquire with the Debtors Clerk as to the reasons for the overdue customer balances reflected under the >30 days period on the customer age analysis and when payment will be received. Creditors: Work with the Finance Team to ensure:
- Supplier queries are responded to within 24hrs
- Suppliers are used from the Approved or Preferred supplier lists and adherence to the Purchasing Policy
- Annual supplier evaluations done to review and update the approved supplier lists.
- Approve and Sign the Purchase Order Requisition Forms.
- Approval emails need to be sent for Purchases (where applicable).
- Supplier invoices are captured accurately on Pastel.
- Documents are saved on the Finance Drive by the Creditors Clerk.
- Balances on the Supplier age analysis agrees to the supplier statements.
- Payments are made within the SLA credit terms or payment terms reflected on the supplier invoices.
- Release of payments after review and sign as confirmation.
- Review the creditors age analysis to identify creditors appearing under the >30 days column and investigate the reason. Cashflow:
- All excess cash from business to be transferred to savings accounts to maximize interest income.
- Using Proactive tax strategies to lower the tax burden.
- Supplier credit terms are fully utilized, and payments only made when due.
- Ensuring customers pay within their credit terms.
- Ensuring timeous and accurate invoicing for goods and services rendered.
- Monitoring cash spend and allocating accounts for payment according to urgency.
- Release payments after confirming details to the supporting documentation.
- Assist the CFO in developing cash flow forecasts for the Board. Fixed Assets:
- Review the Fixed Asset Register for depreciation calculations and agree balances and journals to Pastel.
- Agree all acquisitions to the documentation saved on the T drive by the Debtors and Creditors Clerk. Budget vs Actual Variances:
- Assisting the CFO in consolidating the group budget
- Variances are identified upon preparation of the monthly management accounts.
- Reasons for variances are discussed with the CFO monthly Purchasing:
- Adherence to the Purchasing policy
- All Fixed Assets purchases require quotes and the supplier offering the best quality at the most reasonable prices will be chosen. Broad-Based Black Economic Empowerment:
- Monitoring and ensuring compliance with the B-BBEE Industry and changes to Legislative requirements
- Maintaining a Level 4 BEE Compliance status for all companies within the Group based on the different scorecards
- Compiling annual Audit File and managing site visit
- B Comm. (Accounts) or equivalent qualification
- 5+ years business experience
- Post-graduate qualification in management accounting advantageous
- Qualified CA (SA) Advantage
- CIMA (work experience to still be submitted to obtain the designation)
SKILLS AND ABILITIES:
- Good management skills
- Good Leadership skills (including team leadership)
- Good communication and influencing skills (including written communication skills)
- Advanced computer skills (MS Office, Pastel, Excel)
- Advanced analytical, problem solving and risk assessment skills
- Strategy development and decision-making skills
Interested candidates can send their CV